Rothschild Investment LLC Increases Stock Position in Toast, Inc. $TOST

Rothschild Investment LLC increased its position in Toast, Inc. (NYSE:TOST) by 37,076.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 176,589 shares of the company’s stock after buying an additional 176,114 shares during the quarter. Rothschild Investment LLC’s holdings in Toast were worth $6,271,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in TOST. NewEdge Advisors LLC boosted its stake in shares of Toast by 1,555.5% in the first quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock valued at $578,000 after purchasing an additional 16,379 shares during the period. Cerity Partners LLC boosted its stake in shares of Toast by 24.0% in the second quarter. Cerity Partners LLC now owns 81,574 shares of the company’s stock valued at $3,613,000 after purchasing an additional 15,774 shares during the period. State Street Corp boosted its stake in shares of Toast by 2.7% in the second quarter. State Street Corp now owns 9,212,889 shares of the company’s stock valued at $408,039,000 after purchasing an additional 245,276 shares during the period. Frontier Capital Management Co. LLC purchased a new position in shares of Toast in the second quarter valued at $4,479,000. Finally, Sei Investments Co. boosted its stake in shares of Toast by 24.6% in the second quarter. Sei Investments Co. now owns 1,030,007 shares of the company’s stock valued at $45,619,000 after purchasing an additional 203,404 shares during the period. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Toast Stock Performance

Toast stock opened at $24.99 on Friday. Toast, Inc. has a 1 year low of $22.26 and a 1 year high of $49.66. The firm’s 50-day moving average is $26.31 and its 200-day moving average is $30.32. The company has a market cap of $12.89 billion, a P/E ratio of 38.44 and a beta of 1.81.

Toast announced that its board has authorized a share buyback program on Thursday, February 12th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, General Counsel Brian R. Elworthy sold 3,664 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value of $95,960.16. Following the sale, the general counsel owned 243,642 shares of the company’s stock, valued at $6,380,983.98. This trade represents a 1.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elena Gomez sold 8,929 shares of the stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total transaction of $233,850.51. Following the completion of the sale, the chief financial officer directly owned 173,064 shares in the company, valued at approximately $4,532,546.16. This trade represents a 4.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 39,783 shares of company stock worth $1,041,917. 12.14% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TOST has been the subject of several analyst reports. Truist Financial decreased their target price on shares of Toast from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. DA Davidson decreased their target price on shares of Toast from $33.00 to $28.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. BMO Capital Markets began coverage on shares of Toast in a research note on Tuesday, April 21st. They issued an “outperform” rating and a $35.00 target price for the company. Sanford C. Bernstein set a $39.00 price objective on shares of Toast in a research note on Monday, February 16th. Finally, Citigroup reduced their price objective on shares of Toast from $42.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Toast has an average rating of “Moderate Buy” and a consensus price target of $37.84.

About Toast

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.